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What is the Bitcoin dominance index?
It is simply a measure based on the circulating supply and the current market price. The history of using the index began with the idea of the Bitcoin dominance index when Bitcoin was first introduced to the cryptocurrency markets. At that time, the index indicated a dominance ratio between 99 percent and 100 percent. The term D Bitcoin was coined for this dominance index.
What determines the value of Bitcoin?
The price of Bitcoin, like all cryptocurrencies, is determined based on the balance between supply and demand in the open market. When buyers want to own the currency, they pay a slightly higher price than the current price to ensure they get it rather than leaving the opportunity for others. What is the expected rise of Bitcoin?
Price Prediction forecasts that Bitcoin will advance to $193,650 in 2026. The average price will reach $167,578, indicating moderate gains..